Page Industries Ltd. — Capital/Financing Update 2020

Apr 7, 2020

April 7, 2020

The Secretary Corporate Relationship Dept. The Bombay Stock Exchange PhirozeJeejeebhoy Towers Dalal Street, Mumbai – 400 001 The Secretary National Stock Exchange of India Limited Exchange Plaza BandraKurla Complex Mumbai – 400051

Dear Sir,

Sub: Business Update – Reg

We are enclosing a copy of Business Update. Kindly take note of the above information on record.

Thanking you

Yours sincerely,

For Page Industries Limited

Sd/-

Murugesh C Company Secretary

Bengaluru, India – 07th April 2020

In this emergent COVID-19 situation and safety of all its employees, customers, suppliers and other stakeholders 19 situation, Page Industries has taken strong measures to ensure the health

Effective March 23, 2020, we have The duration of the shutdown will depend upon the directive governments. We are monitoring and adher the Central, State and local authorities stakeholders. temporarily shut down our manufacturing facilities depend directive of the respective local adhering to the health advisory issued, from time to time, by ities, in the efforts to mitigate the spread of the virus. facilities and offices. ocal and state

Actions taken

The Company had taken several proactive measures safeguard the health of its employees employee awareness sessions on Covid practices for employees, temperature checks, travel restrictions and work from home arrangements for almost all the staff members. Company several well in advance of government notification employees. We implemented the Namaste-over-handshake on Covid-19, hand wash and sanitization measures, social distancing , manufacturing and sales for the entire industry for inner to handshake campaign, restrictions work manufacturing the wear

Impact on Page's business

In view of the national lockdown, the and athleisure has been affected, retail outlets remain closed. This will period. Given Page's strong brands' that the demand will return and increase once the situation prepared for the rebound, well organised strengths in distribution and the depth of minimise impact. ; For Immediate Release been as these products do not fall under essential goods. Malls and impact sales partially for March and for the entire s' recall, product quality and pent-up demand, we situation returns to normal. We are to resume business and ramp up sales given of our product portfolio. as fall lockdown are confident thoroughly our superior

Since the manufacturing facilities impact on production volumes during Q1FY21 and as soon as the lockdown is have shut down temporarily during the lockdown this period. We have enough inventory levels to carry us in to lifted, operations will commence immediately. lockdown, there is an s While it of developments as this is an

Looking ahead

While it is premature to accurately predict the ultimate impact of these developments emergent and evolving situation, w sales in March and any further impact will pandemic. While accurately the , we do expect some impact on our Q4 numbers given impact depend on the duration and the impact of the COVID expect impact on our given the loss of on COVID-19

We would like to reiterate the strengths of our business. withstand these temporary challenges. The management team is reviewing the situation of Our strong balance sheet We will continue to meet our obligations to stake holders. on a daily basis and is initiating prompt actions to sheet position can prompt

Given Page's strong business model, brand to adapt to challenging environments stakeholders. environments, we are confident of continuing to create value for all our , Lanka, Bangladesh, Nepal, Oman, Qatar

About Page Industries

Page Industries is the exclusive licensee of JOCKEY International Inc. (USA) for distribution and marketing of the JOCKEY® brand in India, Sri Lanka, Bangladesh, Nepal and the UAE. Page Industries is also the exclusive licensee of Speedo International Ltd. for the manufacture, marketing and distribution of the Inc. manufacture, the Industries also the Speedo brand in India.

Jockey is the company's flagship brand and a market leader in the brand is distributed in 1900+ cities & towns and available in 60,000+ Multi Brand Outlets, 700+ Exclusive Brand Outlets (EBO) with ext company also has 6 EBO's outside India. Speedo brand is available in 1300+ stores including 40+ EBO's and 40+ Large Format Stores, spread across 150+ cities Jockey the premium innerwear category. The Brand extensive presence in Large Format Stores, as also ompany has 6 brand Format across citieswww.jockeyindia.com and exclusive licensee of category. brand is in and also online. The ompany has outside brand

For further information, please visit

Disclaimer: Certain statements that may be made may be forward management's current expectations and beliefs concerning future developments and their potential effects upon Page Industries and its associates. The forward performance and involve risks and uncertainties and there are important factors that could cause actual results to differ, possibly materially, from expectations reflected in such forward does not intend, and is under no obligation, to update any forward ; business brands' recall, robust financial position, resilience and capability Certain be forward-looking statements and/or based on forward-looking statements are not a guarantee of future involve and and there important from forward-looking statements. does forward-looking statement made. looking management's current concerning tements performance and are cause looking Page Industries